Muhammad Ali
Finance
Dubai
Summary of Career
1. Proven abilities in the maintenance, consolidation and finalization of monthly and annual accounts.
2. Comprehensive in-depth experience in finance, accounting, budgeting, cost management, reconciliations and interpretation of financial statements.
3. Proven track record of developing and implementing internal controls that improve Income statement with in-depth knowledge of IAS &IFRS.
4. Versatile and adaptable with strong analytical, problem solving and coordination skills.
5. A team leader with excellent analytical, decision making and negotiation skills.
6. Successfully negotiate the P.O.S machines commission with bankers resulted in cost saving of AED 50K per annum.
7. Achieved a reduction of Accounts Receivable (AR) days by more than 30 days by investigating and resolving reasons of non-payment.
8. Cost Optimization strategies resulted in significant Cost Reduction of Auto division.
9. Performed Internal Audit of Accounts Receivables in all business units of Bhatia Brothers group and submitted Recommendation reports to implement internal controls.
10. Conversant with MS Word, Advanced Excel & PowerPoint, Vision in Excel and DMS (Document Management Software) and Accounting Softwares (Gateway ERP, Sun ERP,Tally ERP 9, , ERP Oracle R12 training)
Experience as Finance Manager
01 May 2018
23 December 2019
• Prepare and present monthly, quarterly and yearly financial statements including Profit and Loss statement, Project wise Profitability Report, Branch wise Profitability, Expense Variance Analysis and Balance Sheet.
• Presenting Actual monthly and Six-month Projected Cash Flow Statement, managing daily working capital requirements.
• Quarterly VAT Return filing based on Output VAT on sales and Input VAT on Local/imports purchases and expenses.
• Formulating and implementing strategies for Sales incentive based on monthly sales targets, Sales Commission on commissionable jobs and Bonus to Installation team.
• Processing of Payroll in compliance with UAE Labour Law, WPS filing, annual leave and end of service calculations.
• Keep track of Receivables collection on Commercial Receipts of Cheque, online transfer and Credit card processing,
• Checking compliance of company policies with regard to purchases made based on three quotes, then deciding on best price and accordingly making credit purchase contracts.
• Dealing with Bank Relationship Manager for all company banking requirements like applying for Corporate Credit card, Bank account opening and closing, Online banking requirements correspondence.
• Reviewing and training the work of accounts staff; implementing new accounting policies to streamline the efficient flow of work.
Experience as Accounts Officer
01 January 2007
31 October 2008
• Managed payable section for smooth payments, commercial & cost comparisons.
• Performing Monthly and quarterly supplier reconciliations by keeping each supplier record.
• Preparing Daily Bank position reports for management to decide on timing of supplier and other expenses payments.
• Filing of monthly Sales tax( VAT returns) by maintain records of purchase made and sales made during the period.
Experience as Executive Accounts
01 November 2008
30 June 2010
• Preparing monthly financial statements including Balance Sheet, Profit & Loss account and performing Ratio analysis to review management performance.
• Setting biannual target cost for materials i.e. active, inactive & packing material
• Presenting variance analysis for target & actual costing and steered corrective actions to reduce cost on the basis of remarks given.
• Negotiating with existing suppliers and finding new suppliers for inactive materials and packing material.
• Assisted the top management in Pricing Policy and provided reports comparing factors affecting prices and profitability of products based on audit reports and market surveys.
Experience as Senior Accountant
29 January 2011
31 December 2016
• Preparing MIS/Business Review pack including Profit & Loss, Balance Sheet & Cash Flow actual; reviewing that all such reports are meeting Finance Ranking criteria.
• Performing Variance analysis to review expenses are within budget and initiating corrective actions for unfavourable variances.
• Review actual monthly collection against collection plan based on credit period allowed to customers. Then accordingly performing Credit Limit & Period Review to tighten for slow paymasters.
• Ensure timely cash flow projections are provided to all stakeholders including Directors.
• Daily cash flow monitoring and projecting cash flow to optimize the management of working capital.
• Import and export LCs, collection of import documents on arrival, converting DAs to TR loan and settling LCs, DA & TRs by arranging funds on time
• Open/close-ended bank guarantees i.e. Bid, Advance Payment, Performance as per project terms and tracking its expiry for releasing the liability.
Experience as Finance Manager
01 January 2017
30 April 2018
Prepare and present MIS review pack including Balance Sheet, Profit & Loss statement, Expense variance analysis, Debtors, Creditors and inventory ageing in Chairman meetings. Explaining the reason for unfavourable variance in expenses, management actions for problematic debtors like legal case and police complaints etc. and presenting Stock liquidation plan for non-moving inventory.
• Debtors’ Collection Plan to monitor that collections are happening within Credit period allowed and customer coverage plan and review.
• Stock ordering, materials import planning, stock liquidation and monthly reviews.
• Prepare adhoc reports for chairman to update our strategic, financial and marketing strategies in order to maintain foreign brands sole distribution.
• Implement cost reduction strategies to align with Budget and SMART cost objectives.
• Closely managing the working capital and timely arranging the finance to meet bank LC, TR commitments and bank guarantees.
• Managing Internal/external audits, Reporting (statuary, Financial, Management & company KPIs), Pricing/Costing, Payables/Receivables, Payroll, Financial Closing, Business intelligence & Cash flows.
• Responsible for budgets planning, development, reviews and reporting (annual, projects, capex etc.)
• Manage relationships with banks and group treasury.
• Devised plan with senior management for VAT Registration and implementation.
• Performing Horizontal & Vertical ratio analysis on Financial statements and analysing trends to support business decision making.
• Analysing Sales reports to determine the right mix of sales based on GP ratios & breakeven points.
Master 15 August 2003
Specialization in Cost and Mangement Accounting; CIMA; ACMA; CPA